Exclusive: Biofuels company proposes to buy fire-damaged Philadelphia refinery

PHILADELPHIA - A biofuels producer said on Thursday it is proposing to acquire the fire-damaged Philadelphia Energy Solutions refinery and convert it to make renewable diesel and jet fuels.

The biofuels company would convert at least a portion of the plant to make renewable diesel, marine diesel and jet fuel. Raw material for the fuels would be fats, oils and grease acquired mainly from surrounding communities, two people familiar with the meetings said. “This is what the PES refinery and other idled or closed oil refineries can become to meet the domestic and global demand for cleaner fuels and energy, and safer air,” said LeTang.

On its face, looks good.

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